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A traditional form of a defined benefit plan is the final salary plan, under which the pension paid is equal to the number of years worked, multiplied by the member's salary at retirement, multiplied by a factor known as the accrual rate. [9] The final accrued amount is available as a monthly pension or a lump sum.
The Employees' Provident Fund, abbreviated to EPF, is a social security scheme of employees in Sri Lanka under the Central Bank of Sri Lanka.It was established under Act No. 15 of 1958 by S. W. R. D. Bandaranaike, [3] and as of December 2010, it had Rs 899.6 billion, which is equivalent to 16% of the GDP. [4]
The institute was initially established as "Society of Certified Management Accountants of Sri Lanka", on 3 June 2000 in Colombo Sri Lanka with the help technical assistance and the guidelines of Certified of Management Accountants of Canada (CMA Canada), now CPA Canada and the Institute of Management Accountants (IMA) of USA and International Federation of Accountants (IFAC) which is the ...
The Sri Lanka Administrative Service (SLAS) (Sinhala: ශ්රී ලංකා පරිපාලන සේවය; śrī laṁkā paripālana sēvaya) is the key administrative service of the Government of Sri Lanka, with civil servants working for both in the Central Government as well as in the provincial councils.
Download as PDF; Printable version ... The solicitor general of Sri Lanka is a post subordinate to the ... The attorney general draws a monthly salary and pensionable ...
The current Parliament of Sri Lanka has 225 members elected for a five-year term. 196 members are elected from 22 multi-seat constituencies through an open list proportional representation with a 5% electoral threshold; voters can rank up to three candidates on the party list they vote for. The other 29 seats are elected from a national list ...
Approximately 250,000 workers took part in the protest against the Sri Lankan government's Private Sector Pension Bill (PSBP). [1] The pension bill effectively cut wages and limited employee benefits , which had a negative effect on the FTZ workers and prompted the mass protest. [ 2 ]
The legal system in Sri Lanka comprises collections of codified and uncodified forms of law, of many origins subordinate to the Constitution of Sri Lanka which is the highest law of the island. Its legal framework is a mixture of legal systems of Roman-Dutch law , English law , Kandian law , Thesavalamai and Muslim law .